Sun Aug 27 22:41:14 2023
(*b36962f9*):: mining ASIC chips are scarce, just like bitcoin.
The BM1366 is a 5nm ASIC chip.
it’s the chip in the most efficient, currently commercially available miner deployed at scale, S19XP
Bitmain probably has 3nm chips but they aren’t *THAT* much better than the 5nm chips, only ~20%.
The 3nm chips are rumored to be 15 watts per TH vs 20 W / TH for the 5nm chips.
in the past, since ASICS were introduced…this gap has traditionally been HUGE
but now the gap is very small.
+ the extra hash you get from the 5W/TH savings isn’t that big vs the cost of the chip
& they can’t even get that much, apple bought them all.
Most important thing right now to realize is…
no one has 3nm chips deployed at scale
& they won’t be deployed at scale for a while
5nm is the most competitive chip
…which are also scarce and which also have production capacity limits.
fwiw, TSMC can only make ~150K 5nm chips per month.
believe it or not..bitcoin can’t break physics
+public!
(*b36962f9*):: “Bitcoin culture is cyclical; the culture and narrative has changed over time as we the users attempt to answer questions about the software.. There’s a danger in cultural transitions, as new users lack the context to understand them. They believe that Bitcoin as it was presented to them is how it always was and it was never anything different. These users are the most likely to become stuck in prior narratives.
You may look down upon the folks who went to the Bitcoin Cash or Bitcoin SV camps but I’d say to you: they sat at conferences like this; they loved Bitcoin as well. They bought bitcoin with the same hopes as you, but now they are not here. They are a different group. This is partly because they were not able to change their mental impression of what Bitcoin was. They were told that Bitcoin was a certain thing and were unable to ever accept that it could be something else. And there may be a risk that this same pattern repeats.”
- @pete_rizzo_
(*b36962f9*):: +public!